SHINE NEWS….
Every day there are thousands of baby boomers turning 65 and are now eligible for Medicare. Those new to Medicare can make costly mistakes resulting in higher health care costs, gaps in coverage and possibly a lifetime late enrollment penalty. If you are collecting Social Security, you will automatically receive your Medicare card 2-3 months before turning 65. If you are not collecting, you are responsible for signing up for Medicare Part A (hospital insurance) and Part B (medical insurance) either online at at your local Social Security office. There are federal rules as to when you can enroll into Medicare Part A, Part B, Part C (Medicare Advantage Plans-HMOs, PPOs) and Part D (prescription coverage). If you miss these enrollment periods you may have to pay a late enrollment penalty and could have a gap in health care coverage.
If you or your spouse are actively working and have group health insurance through that employer (not Cobra) you may delay taking Medicare Part B at 65 without a penalty. However, if the employer has less than 20 employees then Medicare is primary and the employer coverage is secondary. In this case you may need to have Medicare Parts A and B for complete coverage.
If you are on a Massachusetts Health Connector plan and are now eligible for Medicare, you can stay on the Health Connector Plan but you will lose any subsidy or tax credit. Therefore it may be less costly for you to enroll in Medicare.
Those are someexamples. Because each situation is unique, there are more questions to ask, options to be looked over and costs to compare.
If you or someone you know will be turning 65 it is very important to sit down with a SHINE (Serving the Health Insurance Needs of Everyone) counselor and go over your particular situation. SHINE volunteer counselors are trained and certified by the Executive Office of Elder Affairs and are re-certified each year to help those on, or eligible for Medicare, navigate the complex health insurance system. Please call your local Council on Aging (COA) and make an appointment with a SHINE counselor or call the Regional SHINE Office, Barnstable County- Dept. of Human Services, at 508-375-6762.